SSE PLC

AGM Information • Jul 19, 2018

National Storage Mechanism | Additional information

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RNS Number : 2168V

SSE PLC

19 July 2018

SSE PLC

RESULT OF GENERAL MEETING

With reference to the Circular published by SSE plc on 27 June 2018 in connection with the proposed demerger of SSE Energy Services and, subject to regulatory approval, subsequent combination of that business with Npower Group Limited under a new holding company ('the new company') to be listed on the Premium Segment of the Main Market of the London Stock Exchange, a General Meeting of the Company took place in Perth today. Both Resolutions, as set out in the Notice of General Meeting, were passed by shareholders on a poll. The table below shows the votes cast on each resolution.

SSE Chairman Richard Gillingwater said:

"I am very pleased that SSE's shareholders have passed the two Resolutions relating to the planned SSE Energy Services transaction, and by such an overwhelming margin.  We believe that demerging SSE Energy Services and combining it with npower is the right thing for customers and for the energy market as a whole. 

"It will help create a new market model by combining the resources and experience of two established players with the focus and agility of an independent supplier.  We now look forward to satisfying the remaining conditions to allow the transaction to be completed."

	Resolution	For	% of votes cast	Against	% of votes cast	Total votes cast	% of Issued Share Capital Voted	Withheld
1.	Approve the special dividend to give effect to the Demerger	668,597,044	99.94	422,262	0.06	669,019,306	65.90	3,456,960
2.	Approve the waiver of the obligation on innogy to make a general offer for the new company	619,543,477	92.62	49,395,491	7.38	668,938,968	65.89	3,537,231

A copy of the resolutions put to shareholders at the General Meeting has been submitted to the Financial Conduct Authority and will shortly be available for inspection on the National Storage Mechanism (NSM) by accessing the following link: - www.hemscott.com/nsm.do 

Notes:

1.    A vote 'Withheld' is not a vote in law and is not counted in the calculation of the proportion of votes 'For' and 'Against' a resolution.

2.    There were 1,023,008,915 ordinary shares of 50 pence each in issue as at 19 July 2018. This figure includes 7,811,381 ordinary shares which are held in treasury. Every shareholder has one vote for every ordinary share held. The voting rights on treasury shares are automatically suspended. The total number of voting rights in the Company was 1,015,197,534 as at 19 July 2018.

3.    As a result of the approvals of the Resolutions and on the basis set out in the Circular, should the Transaction complete, innogy will hold 34.42% of the MergeCo shares in issue on Admission.

4.    This announcement should be read in conjunction with the full text of the Circular published on 27 June 2018, which is available on the Company's website at www.sse.com. Defined terms used in the Circular shall have the same meanings when used in this announcement, unless the context otherwise requires.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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